HomeMy WebLinkAbout0198 Southeast Bank Note Number
ON THIS~L DAY OF Oc~Er 19~~ FOR VALUE RECEIVED, THE UNDERSIGNED
hereinafter called Maker without regard to number or gender, faintly and severally PROMISE TO PAY TO THE ORDER OF
SOUTHEAiT First National Bank of Fort Pierce
hereinafter called BANK,
THE PRINCIPAL SUM OF ~F~-~I$__~QUSANjZ T~'Q._Hjj[~j,)~Q_~~D NO/ZOO---- DOLLARS
PAYABLE ene veer from dat~hereQ~ _
Interest thertton shall accrue from Ills date of ftutding, computed on the basis of a 365 day year, at the ANNUAL PERCENTAGE
RATE OF 16.SX*
In quarterly payments beginning 3 months after the date
INTEREST SHALL BE PAYABLE of this note and on the same~des_~ of each and every quarter
anti t e print pa s u-lly paid:
All payments shall be applied first to atfxued interest and then to principal. Interest wil. accrue at the rate of 1/365th of annual
interest for each day that principal a outstanding, but in no event shall interest be clue at a rate in excess of the highest lawful rate.
Without limiting the generality of the foregoing, and notwithstanding any oral or written agreement, no deposit of funds shall be
required in corxtection with this loan in an amount which will, when deducted from the principal amount outstanding hereunder,
cause the rate of interest. hereunder to exceed the maximum lawful rate.
If any payment Is not made In fait sihrn due, the enure unpaid princrpa; aitd accrued interest, less any unearned Interest and any
Interact to excess of tY.e maxtmum atknird by lane and any rebatrs requued by la?v, shalt at the opUOn of the holder become
Immediately due and payable Wlrthout notice. Failure to exrruse the option shall not constitute a waver of the wbsequent right to
exe?cise. AFTER MATURITY, INTEREST SHAH ACCRUE ON THE OELINOUENT PRINCIPAL BALANCE AT THE HIGHEST
LAWFUL RATE OF INTEREST OR, IF NO MAXIMUM RATE IS PRESCRIBED BY LAW, AT 1896 PER ANNUM.
As security for the payment of this mote, and any renewals, extensions or matificattons thereof, and any other liabltrties of the
i41AKER to the BANK, however or whenever created, lAAKER hereLy grants to the BANK a security Interest in:
Lot 36, VIKINGS LANDING, PHASE TWO, according to the Plat thereof
as recorded in Plat Book 19,-Page 6, of the Public Records of
St. Lucie County, Florida.
PREPAYMENT IN WHOLE OR IN PART AT ANY TIME, WITHOUT PENALTY, IS
RESERVED BY MAKER.
yYttettser or not specr}rC proptrty rs tfeSCr ai a0044re1 seCUnty 1a tt•r reyrr,rrlr of th•s Note any renewals, elttenslorts o. modrflcattons
therMt, and any Other IrLt?rlrt•eS of MAKER t t3/Alf K owever or rMreneve• creiterl, MAKER hereby pledges tp BANK any artd ,Ill property of MAKER
now or hereafter dNntered to or Itlt rn o. c ~n o trst posstss,un, crx+t+ut a cost«fy of BANK, rltleihtr expressly as Co14tHal secunty or for any
other purpose (inctrrdrrtg cash, stuck and other d any! all r,ghts t , wlrSCr•tJe for recur •trK rnr:rdMt to, dtclarerl, M granted rn connection with st1Ch
property), and properly deSCrrbld rn cOltatNas r rP then drxurs<.ents sgr?ed ~,r furnrsfred uy the b1AKER, and ersy and all reptxements Of any of
tht fwego.rsg, vretetller d rwt m the possession of k tl such property and any oihr prt,pe.ty s[turrng maker's habrlrtres to the Bank rwll htrtatter
bt referred to as °tht Cdlaterat.•' The Collateral K also as security for alt other Iral.r!rsres (PrrtttarY. t~~arY. direct, conhngent, sole, iprnt or
several), this w to become due of tllerrch rrwy be hereatr a led or .rtrtwred, of tech Ma. er IrntlumrSg each Maker and any other person) to BANK,
wrtether such traWbtrts acne m the ordinary cr)urse of bsr n . R.gf.t n hereby exprnsly granted to the BANK at ns option to vansfer at any tiros
w Itsell or to its florrtrnet any Cotlate•al, and so rKCrY! t r eon amt hoMf tilt some az securriy herefor, Ot apply d on the PrirlCrpal or interest
dot flereOrs w due on any Irabrhry slt:urld hereby. The BA K c trrNre to hoof ar+y ptp),~rf property deposited hereurxter alter the payment of this .
note, rt at the ume of the payment and dnctlarye hreof of Ines Ir,/+le for the payment trcrtot shelf l,t then duectly o. contrrsgently )rabic to
the BANK as maker, trsdurser, curtly or guarantor of any other tt n b.ii v' a¦charge, or other msvument. or ofhtrwrse, and the BANK may ttlere-
~ after exerase the r is with r t to sand
rgh espec pledged property gram e.n ren rht,ugh this note :hall have been surrendaeA to the MAKER.
~ It n mtl and stvetali covtnantM ar+d M_d with the Bank ~ MAKER. end::rSer, ,~:et•
W Y r ~ r. guarantrr. and other party to this Wore Ia11 of
whom are ftererrtalter to brevity called Obligor a Ob:rgO_ sl that
t
1. Addrtrons to, releases. reductions Or exchangrs ol, or wbitdutrons t t Coo ter at, lsymrrus r:n .rccrxrnt of thn loan or ,ncrr,sts of the same, or
C Other (Dens made partwlly Or wholly yppn Ih! CWlat~ra', may )rpm tame 10 rn•thU~t a1leCUng thr Urov•S~U•tS of ih~s nq!o Or the babrhtres 01
arty party tlsrsto. t3ank sftall experts reastsrlabls care m the custody and pr v t the Collateral and shall be deemed to have exercised rsasonsbb
cars if it takes duds action for dial purpose as Make, shalt reasonably request in rt t no omrssron to comply with arsy request of Maker shalt of it-
self lls rfsetrtad a fallen to expense re3sorsabre care Without Ilmrbrg the generate f th Iorego/n~, the BanK shalt have no respcxssrMlrty for ascertarnirg
any rtsaturrties, calls, Cpltrersroltf` exrJlarlges, Offps, tenders or Lmrlar metiers relatrrl~,to any of the Cdlateral,nor tpr rntormr the under:
8A.•'K J, Jr wC :o ::.kt as-- s: _ ne igned with rs-
~t 23 i,T~ ifg•sv • ¦ eps :5'Fti+
i iv p=ciE. a,:j ::y.ii iii thF vleisyC~S yruytr iy n t ~O! riitf, arid
MAKER shall take ail for such r +9er s ~ v+
rsecsisary steps pu poses. BANK or its rsornrnee deed nog cdteet interest or. or prrncrpel of any pledged prep.rty or giw
any notice with rstpsct to tt_
7 Upon tht happMrng of any of the follOw•ng events, exh Of vM,ch shad constitute a drta,.rt P~rrund!r. ur rl the CoUatera! sha~I at any bins become
unsaU3fa[lory to BANK, Or d BAYK shat) at any hm?_ tfeem rtes)) mteCUrt, ell IsblrJrei Of rac•~ t,:eke. to BANK. ,vtlCthrr w rrutwrdenced by thn nOtt,
shall thereupon Or thereafter, at the option of BANK, w•thout nptrte or derrland, becur•re der ,rr rt payabrP Ia! t,ilure of any Oblgor to perform any
agreement Itetltrrtder o. IO DeY rn lull, when cf•,e. any LalSrirty whatsoever ip BANK o• any ,rs!yfimr•nl there0l Ur rnterrst !hereon. Ihl Ills dtith Ol any
Obtrgor; tel the /drug of aay pet+tron under the Baalrruptcy Act, o. any srmdar Ied!ra1 rr st„rr ss,r ,tr, by or aga~•tst ar•v Obl,gpr, Idl an aophcatron for
tht apppntmtnt of a reCerver for, Iris rrtakrng of a gerseral assgr:ment for the b._•r:eht of ued~to•s uy. or the •nso!ver.Cy pl any Obligor, let the entry OI a
ludgrrrent against any OWrga. t1) the rSwrrg of env artxttments or garnishment, or the t,Irrtg of any I,en, ay~.nst any prO/terty of any Oblrgpr: Ig) the
Ukrrtg of posstssron of any wbstanaal pa+t of Itx poperty of any Obtgpr at ttx ~nstarxe of ,rny governrtsPntal authO.rty- (h) the drsSOlutrOn, rtter,e?,
consol,datron, or rtorgenrzatwn of any Obl.gor. 1.1 the determ,natron by BANK that a maters: advrrse charge has occurred rn the Irnancral condrnon of
any Obligor /rpm lht COrtdrtror.i set fprth rn the moil rKent bvncrat Staterrt!nl Of Such OWrtX,r herelvtOre IurnrshPd t0 BANK, or from the CGndrttOn OI
Such OWrgtsr x heretofore :met rectntty drsctosed to BANK rn am rrlenner, or that a•+y warrarrty, rPprrSenlaUOn, ca t:••catr w statement of soy Oblrgt>•
(whether torltLttld +n tAn ogle Or noQ ppta•rnng IO or rn ConrreCtrOt: with Ihs note p the Irtirn ••v,tfenced by this note rs not true, Ill assgnment by any
MAKER o1 any equity m anti of the pledged Coltaterat w.tttout the wr.tten consent of BANK, Ik? taau=e to de an Inrrgs necessary to preserve and
rrgrMarn the value and COllectrbrbfy Ot the COllatlral. rrKkrdrng, but not Irmrted t0, the Wymrnt Of taxe:.+'x1 p*en~wmi on pt,hGret of Mwrsnce on the
due deft without btnef.t of Iht gate period
r
THE PROVISIONS ON THE REVERSE SIDE ARE A PART OF THIS NOTE 6
K 19~
to
F - 1
r Address 210-.Came no_Street, S ~ ISEALI
n- se
Port St. Lucie, Florida 33452 JS/
(SEAL(
t *Interest rate shall float with the Prone Lending rate o rat Nationlal Baorlk of
I~Saaf and be set at 2X ouer Prime as established m the t day of each month. Said interest
rate as established cn the first day of each month shall continue thzrougttaut the said month
~ and shall be re-established on the first day of each sucoeedin~ mrnth, Tile Prime rate of
Southeast First National P - -?k of t~iald is p>:esently 14. S9e.
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